Yamato Steel announced on Tuesday the firm reduces H-beam selling price by 2,000 yen per tonne for the distributors for shipment on July 10. Sumikin Steel & Shapes announced on the day the firm reduces H-beam selling price by 3,000 yen for the distributors for July production. The makers adjust the price when Tokyo Steel Manufacturing reduced the price and ferrous scrap cost decreases.Yamato Steel reduces I-beam and channel price by 2,000 yen per tonne for July shipment. The firm already adjusted the actual selling price to meet the weak market condition and confirmed the adjustment through the official price change. The firm tries to find timing to increase the selling price while the firm keeps low level production in July as June. Sumikin Steel & Shapes keeps low level production in July as June. The firm improves the supply balance when the firm tries to seek opportunity for potential price hike. The firm increased the production in June to recover lower production in April and May due to facilities trouble while the firm keeps the production at the demand level.
Japan Steel Scrap Composite Prices (Sangyo Press)07/08/2020
|22100YEN (-200)||24200YEN (-100)|
|203.33US$ (-2.58)||222.65US$ (-1.73)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)